CCCC's Strong First-Half Contract Backlog Points to Solid Growth Outlook
No-moat China Communication Construction Corp.'s latest contract update confirms our view that the firm is on track to deliver a solid 2017 result, and its near-term growth outlook remains robust. CCCC’s overseas contracting division remains the most important growth driver, while its other segments report varying degrees of solid growth. For now, we retain our key operating assumptions and our fair value estimate of HKD 12.50 per share, and consider shares fairly valued at the current market pr...
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